United States Federal Circuit
Henry E. & Nancy Horton Bartels Trust for the Benefit of Cornell Univ. v. US, 09-5122
In a university trusts' tax refund suit, the Court of Federal Claims' denial of its claim is affirmed as the securities purchased on margin by otherwise tax-exempt organizations are debt-financed property, and thus, income from an unrelated trade or business, which is subject to the UBIT.
Appellate Information
- Decided 09/07/2010
- Published 09/07/2010
Judges
Court
- United States Federal Circuit
Counsel
- For Appellant:
- Philip H. Bartels, Jennifer M. Rubin